This week, February 26 through March 3, is America Saves Week, and all are encouraged to participate in this national week of saving money! The purpose of America Saves Week, which started in 2007, is to raise peoples’ awareness on their money habits and to reflect on their own saving practices. A 2013 survey showed that only around half of American adults are good at sticking to a savings plan. Are you one of them? Whether you or aren’t, America Saves Week is an annual time for all to assess their financial goals and savings plan to help accomplish those goals.
When you click the link, https://americasaves.org/for-savers/pledge, it takes you to the page where you can take the pledge to save money, and you can even include how much you plan to save each month, how much you hope to have saved by a certain amount of time, and your purpose for saving money, So think of your goals, such as paying off debt, building up an emergency fund, saving for a down payment on a house or new car, or saving money for a vacation. You can also “pledge” under the local Florida chapter through UF: https://americasaves.org/local-campaigns/florida-saves. With your goals in place, you can then create a plan to determine how much you need to save and in what time frame. Saving automatically, either through a retirement plan through work or having money taken out of your checking or savings account into an investment or other retirement account, has been shown to be a great way to increase your savings, and is another message America Saves emphasizes. Putting away a certain amount each month through automatic deposits adds up quickly, plus, you earn interest!
Americasaves.org also has helpful resources, tips, and success stories to help you get motivated to save money. Let this be the year you reach your financial goals. Happy saving!